REG - East Imperial PLC - Corporate Update

East ImperialAnnouncement

12/04/2024 16:45

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RNS Number : 5056K  East Imperial PLC  12 April 2024

12 April 2024

East Imperial plc

("East Imperial" or the "Company")

Corporate Update

 

East Imperial plc, the global purveyor of super-premium beverages, has today
received a Redemption Notice from INL Investment Limited ("INL") issued in
connection with a Convertible Note Instrument dated 7 August 2023 (the 'Loan
Notes') and a Deed of Share Charge dated 16 October 2023, first announced on
17 July 2023. Under the terms of the Redemption Notice, INL seeks immediate
redemption of its Loan Notes totalling £2.2million, together with all
interest due under the Loan Notes.

 

The Company is unable to meet this redemption liability and therefore the
board is now in discussions with professional advisors in connection the
Company's possible administration or liquidation, and with the FCA regarding
the potential suspension of trading of the Company's shares on the Main Market
of the London Stock Exchange.

 

The board will update shareholders on the Company's financial position as soon
as possible.

 

This announcement contains inside information for the purposes of Article 7 of
the UK version of Regulation (EU) No 596/2014 which is part of UK law by
virtue of the European Union (Withdrawal) Act 2018, as amended ("MAR"). Upon
the publication of this announcement via a Regulatory Information Service,
this inside information is now considered to be in the public domain.

 

For further information, please contact:

 East Imperial plc                                           investors@eastimperial.com (mailto:investors@eastimperial.com)

 Anthony Burt

 Allenby Capital Limited (Broker)                            +44 (0)20 3328 5656

 Guy McDougall / Matt Butlin (Sales and Corporate Broking)

 Jeremy Porter / Piers Shimwell (Corporate Finance)

 

About East Imperial

 

Founded in New Zealand and Singapore in 2012, East Imperial produces a range
of super-premium mixers that sell throughout APAC, the US and EMEA. Guided by
a clear strategy to capitalise on the growing demand for premiumisation across
the beverage industry, East Imperial has sold over 33 million bottles in over
20 countries since its founding, with popular products including Old World
Tonic Water, Grapefruit Tonic Water, Yuzu Tonic Water and Mombasa Ginger Beer.
In 2023, East Imperial won 8 medals at the coveted Tonic & Mixers Masters
Competition in London.

 

The Company was founded on the philosophy of creating exquisite products
defined by heritage, tradition, and authenticity. All products are made from
the highest quality, all-natural ingredients, reflecting East Imperial's
commitment to providing a sustainable product and minimising environmental
impacts at every stage of the manufacturing process. For more information
about East Imperial and its ultra-premium mixers.

 

Visit https://www.eastimperial.com/ (https://www.eastimperial.com/)

 

 

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